The Governor of California has signed a cryptocurrency regulation bill

ChainCatcher news, according to Bloomberg Law, California Governor Gavin Newsom (Democrat) signed a bill on Friday to regulate the cryptocurrency industry in California.

It is reported that California lawmakers aim to establish new rules for cryptocurrencies. Gavin Newsom, who advocates for blockchain innovation, had previously vetoed similar legislation, but the issue has become more urgent following the collapse of the FTX exchange and other market turmoil last year. As federal action has yet to be taken, state lawmakers hope to create a basic regulatory framework.

It is reported that nearly a quarter of North America's blockchain companies are located in California.